MITC Capital, a key player in Morocco’s venture capital scene, has officially rebranded as MNF Ventures. This change marks a new chapter for the firm, known for its management of the Maroc Numeric Fund and Maroc Numeric Fund II, and underscores its commitment to driving innovation and growth in the tech startup ecosystem.
Since its founding in 2010, MITC, now MNF Ventures, has built a strong reputation by investing in 28 startups, primarily focusing on tech companies based in Morocco and those led by Moroccan diaspora entrepreneurs. With a wealth of experience and proven expertise in backing promising startups, MNF Ventures is reinforcing its position as a leader in venture capital, supporting the next generation of technological innovation in Morocco and beyond.
The name change to MNF Ventures reflects a strategic evolution, aligning the company’s identity more closely with its core mission of fostering the growth of cutting-edge tech startups.
Latest investments
MNF Ventures recently participated in two significant funding rounds for promising startups:
- Cypherleak, a cybersecurity startup specializing in risk monitoring and assessment, secured 8 million dirhams in a funding round. Investors included Maroc Numeric Fund II, as well as entities from Abu Dhabi and Qatar, such as Qatar Insurance Company. Cypherleak’s platform offers an innovative solution for SMEs to easily monitor cyber risks and identify vulnerabilities in their systems.
- Logidoo, an African logistics and e-commerce platform, raised $1.55 million in a Seed round. This investment, led by a consortium of venture capitalists, including Maroc Numeric Fund II, will help Logidoo expand its market presence across Africa and enhance its cross-border logistics solutions.
In addition to these deals, MNF Ventures announced that two more investments are set to be finalized in the coming month, signaling continued growth and commitment to supporting the region’s tech ecosystem.
